3rd Mar 2016 16:40
(ShareCast News) - Homes are not always a safe repository of value, as property busts show, but at the moment they are the safest corner of the UK banking space. That was reflected yesterday in Virgin Money's full-year figures for return on tangible equity, which at 10.9% easily trumped those of the
Read more3rd Mar 2016 15:58
(ShareCast News) - Stagecoach Group's shares declined on Thursday as Investec cut its rating to 'sell' from 'reduce' and target price to 250p from 300p. Investec said Stagecoach's trading update on Wednesday revealed softer revenues than expected in all divisions, apart from North America. The FTSE
Read more3rd Mar 2016 13:32
(ShareCast News) - Shore Capital has reiterated its 'buy' rating on challenger Shawbrook Bank on its belief the valuation of the specialist lenders sub-sector is wrong, with Shawbrook being valued at 10 times earnings despite 20% EPS growth forecast. Maiden final results from the bank since its 2015
Read more3rd Mar 2016 11:50
(ShareCast News) - Shawbrook Bank's first final results since its flotation last April showed underlying profits ahead of forecasts and confidence brimming for the years ahead. The 'challenger' bank, which was formed when the former RBS Equity Finance acquired the banking licence of Manchester-based
Read more29th Feb 2016 14:29
(ShareCast News) - The FTSE 250 crawled back towards parity by mid-afternoon on Monday after an early morning dip, but the index remained doggedly on the wrong side of the line. Shares in Vedanta Resources led the recovery over the day, climbing on news that India will shelve export taxes on low-gra
Read more29th Feb 2016 11:52
(ShareCast News) - Broker Peel Hunt has slapped a 'buy' recommendation on Aldermore, OneSavings Bank and Shawbrook, as it began coverage of the three challenger banks. After some weeks of significant share price weakness in the trio, Peel Hunt said there was now an opportunity to acquire "high-quali
Read more20th Jan 2016 13:07
(ShareCast News) - JD Wetherspoon was under pressure on Wednesday as Investec cut its target price to 760p from 800p after the pub operator guided full year profits lower. In a trading statement, chairman Tim Martin warned that full year profits "were likely to below the lower end of analysts' expec
Read more20th Jan 2016 11:14
(ShareCast News) - Credit Suisse initiated coverage of Shawbrook at 'outperform' with a 410p price target, saying the model is attractive, given that it avoids commoditised lending and is diversified across both SME and consumer lending. The Swiss bank prefers Shawbrook to Aldermore, as its stronger
Read more10th Jan 2016 16:15
(ShareCast News) - A handful of much-anticipated deals could be announced in the coming week, according to the Sunday newspapers, including BT's acquisition of EE, Shire's takeover of Baxalta and Sainsbury's follow up offer for Home Retail. BT's acquisition of mobile phone network EE will be given f
Read more5th Nov 2015 10:35
(ShareCast News) - Challenger bank Shawbrook posted a sharp rise in underlying profit in the first three quarters of 2015, boosted by higher demand for loans for small businesses. In the nine months to the end of September, the London-listed group registered a 68% year-on-year increase in underlying
Read more2nd Oct 2015 09:05
(ShareCast News) - Specialist lending and savings bank Shawbrook has appointed Steve Pateman as its new chief executive officer with effect from 1 January 2016 subject to regulatory approval. Pateman joins the company from Santander UK, where he was executive director of UK Banking, responsible for
Read more11th Sep 2015 12:52
(ShareCast News) - Challenger banks have reportedly requested an extension to the government's flagship industry funding scheme during a meeting at which they expressed their anger over Chancellor George Osborne's plans for an 8% Corporate Tax surcharge on profits of more than £25m. According to Sky
Read more7th Sep 2015 13:30
(ShareCast News) - The banking sector will have to pay out vastly more than expected from George Osborne's new profits surcharge, which was introduced to reduce the pain of the Bank Levy on lenders such as HSBC. When the Chancellor unveiled the new 8% surcharge on bank profits and plans to lower the
Read more25th Aug 2015 09:14
(ShareCast News) - Lending and savings bank Shawbrook has appointed Paul Lawrence to the board of non-executive directors. Lawrence, the former global head of group internal audit for HSBC, and chief executive of the FTSE 100's divisions in Singapore and Philippines, stepped into his new role on 24
Read more28th Jul 2015 10:34
(ShareCast News) - Shawbrook Group, one of the UK newly-listed banks, reported a surge in first half profit on the back of an increase in its loan book. The lender said its pre-tax profit for the six months to 30 June nearly doubled to £34.8m, as the bank's loan book jumped 38% year-on-year to £2.72
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